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In the news

STRONG SET OF FINANCIALS THANKS TO STRENGTHENED POSITION ON KEY MARKETS AND FOCUSED ACQUISITIONS

Amsterdam, Brussels, Lisbon, London and Paris – 19 February 2018 – Today Euronext, the leading pan-European exchange in the Eurozone with nearly 1,300 listed issuers, announces its results for the full year 2017.

Solid contribution from revenue diversification initiatives with FastMatch and Agility for Growth contributing respectively to the group’s revenue for €7.2m and €9.8m

Robust EBITDA, at €297.8m (+4.9%), with margin at 55.9% (-1.2pt), despite the costs of ramp-up of projects

Continued core business cost discipline partially offsetting the impact of the change of perimeter, MIFID II compliance and Optiq® projects, and slowing the growth of operational expenses (€234.5 million, up 10.3%)

€10.9 million of cumulated gross efficiencies achieved since Q2 2016, as part of the cost reduction programme announced in the Agility for Growth plan

“2017 was a strong year with key milestones reached for Euronext. We launched growth initiatives, resolved the uncertainties related to clearing, secured the first significant acquisitions since our IPO, delivered the first components of Optiq® and became MIFID II compliant. As a consequence, we are publishing today a strong set of results, showing the strength and growth profile of a profoundly transformed Euronext.

Our confidence is strong for the next two years. Core business revenue should grow in line with forecasts, and we will continue our cost control discipline to ensure the 61% to 63% EBITDA margin target is reached in 2019, excluding clearing activities. FastMatch and the Irish Stock Exchange at closing will further contribute to our 2019 performance. To reflect our active management of priorities, we now forecast €55m revenue at a 50% EBITDA margin for Agility for Growth initiatives in 2019. We will continue to deploy our capital through pertinent acquisitions and keep a 50% dividend pay-out ratio, showing our continued commitment to provide value creation to our shareholders.”

Amsterdam, Brussels, Lisbon, London and Paris – 7 February 2018 – Euronext, the leading pan-European exchange in the Eurozone, today announced trading volumes for January 2018.

Cash trading
In January 2018, the average daily transaction value on the Euronext cash order book stood at €7,773 million, up +20.4% compared to January 2017 and stable from the previous month.

The average daily transaction value on ETFs order book[1] was €286 million, up +16.9% compared to January 2017 and up +5.6% from the previous month. At the end of January 2018, 808 ETFS were listed on Euronext compared to 804 at the end of 2017.

Derivatives trading
In January 2018, the overall average daily volume on derivatives reached 561,231 contracts, up +25.9% compared to January 2017 and up +4.9% compared to the previous month. In detail,

the average daily volume on equity index derivatives reached 199,714 contracts, stable compared to January 2017 and down -6.5% from the previous month,

the average daily volume on individual equity derivatives reached 313,502 contracts, up +56.3% compared to January 2017 and up +10.6% from the previous month,

the average daily volume on commodities derivatives reached 48,016 contracts, up +6.5% compared to January 2017 and up +26.3% from the previous month.

At the end of January 2018, the open interest was up at 16,814,247 contracts (+27.6% compared to the end of January 2017).

FX spot trading
The average daily volume on the spot foreign exchange market of FastMatch, of which Euronext owns 90% of the capital since August 2017, stood at $20,774 million, up +22.0% compared to January 2017 and up +33.2% from the previous month.

Listing
In January 2018, Euronext had no new listings. €3.5 billion were raised on Euronext in corporate bonds of which €1.0 billion of green bonds from ENGIE; and €1.7 billion were raised in follow-on equity.

[1] From January 2018, volumes on ETFs are only measured on order book activity due to low revenue-impact of off-book activity. Based on the previous presentation to be abandoned, activity is €359 million, down -19.7% compared to January 2016 and down -36.7% compared to the previous month.

Amsterdam, Brussels, Frankfurt, Lisbon, London, Madrid, Milan, Munich, Paris and Zurich – 1 February 2018 – Euronext, the leading pan-European exchange in the Eurozone, today announces the launch of its new sponsored investor access initiative called “Trade & Leverage”. This programme is designed as part of Euronext’s European Tech SME initiative, which was launched in September 2017 to assist tech companies in developing their business on a greater scale through capital markets.

The Trade & Leverage programme is dedicated to German, Italian, Spanish and Swiss tech companies newly listed on Euronext. Following their listing and over the course of two years, these companies will be eligible for investor relations services such as equity research, investor events and investor relations solutions. The seven providers, offering packages with prices negotiated by Euronext, have been selected for the quality of their service and their commitment to deliver attractive pricing to SMEs:

Baader Helvea (Germany/ Switzerland/ Austria)

CF&B Communication (France)

Edison (United Kingdom)

F2iC (France)

Invest Securities (France)

IR Top (Italy)

Sphene Capital (Germany/ Switzerland/ Austria)

These providers have great expertise and strong track records in assisting European Tech SMEs with their investor relations. Additionally, Euronext Corporate Services[1] will offer investor relations solutions and advisory services to these Tech SMEs. Companies eligible for the programme may choose to work with one or several of these partners.

Moreover, newly listed companies will be rewarded by Euronext when they invest in their investor relations via programme partners. Euronext will grant those issuers half of the revenue generated by the trading of their stocks[2].

Anthony Attia, Global Head of Listing of Euronext, said: “We want to contribute to a virtuous circle for European newly listed tech companies; the more these companies invest in their visibility towards investors, the more liquid their shares will be and the smoother their listing journey should be. With this initiative, we are willing to further assist them after their listing, in a post MiFID II equity research environment. We will continue to deploy new programmes for European Tech SMEs in the course of 2018.”

In 2017, Euronext opened new offices in four European countries outside its core markets, in Germany (Frankfurt, Munich), Italy (Milan), Spain (Madrid) and Switzerland (Zurich), to assist tech companies in developing their business on a greater scale through capital markets. Newly appointed teams on the ground are working closely with local ecosystems to deploy initiatives aimed towards tech entrepreneurs.

With more than 330 listed Tech SMEs representing a total market capitalisation close to €60 billion, and over 750 active tech investors, Euronext is the primary venue for innovative companies in Europe. Since 2014, close to 90 tech companies have gone public on Euronext markets, of which eight were from the four new countries in Europe.

[1] Euronext Corporate Services is a subsidiary of Euronext aiming at helping listed companies make the most effective use of financial markets by providing them with innovative solutions and tailor-made advisory services.

[2] The incentive provided by Euronext can reach up to €5,000. Details of the incentive can be found in the brochure dedicated to the Trade & Leverage programme via the link in the notes to editors.

Paris – 30 January 2018 – At its 7th annual Stock Exchange Conference, bringing together key players in the French financial market, Euronext unveiled a new report on trends in direct shareholders of the companies that collectively form the CAC 40 index.

Methodology

The study analysed the shareholders of CAC 40 component companies as recorded at the end of each year from 2012 to 2016. It drew from both public data published by listed companies and data made available to Euronext from the Factset and Morningstar databases. Conducted by Euronext’s Innovation department, the report successfully identified roughly 60% of CAC 40 company shareholders[1] and classified them in 11 categories. The full study and a breakdown of its methodology are available on the Euronext website:

At the end of 2016, asset managers held investments totalling €350 billion in CAC 40 companies, through approximately 15,000 funds. This represented 25.9% of total CAC 40 shareholding, up from 21.9% or €208 billion at year-end 2012.

Blackrock and Vanguard were the two largest asset managers in the CAC 40, with 2.3% and 2% respectively at year-end 2016, compared with 1.5% and 1% at year-end 2012.

Passive management[2] grew at double the rate of total asset management to represent around 6.5% of total CAC 40 shareholding.

At the end of 2016, families and founders represented approximately 10% of total CAC 40 shareholders, with a total worth of €135 billion

This percentage appeared fairly stable compared to year-end 2012.

Family shareholders held more than 20% of ten CAC 40 companies.

The largest single CAC 40 shareholder at the end of 2016 was the Arnault family Group, with a total worth of €43 billion, derived mainly from its stake in LVMH. This interest alone represents about 3.2% of the CAC 40.

From year-end 2012 to year-end 2016, the weight of individual shareholders in companies with published data decreased, while employee shareholders remained constant at 3.5%.

22 companies published data on their individual shareholders at the end of 2016, compared with 17 at the end of 2012.

For the 15 companies distributing this information that were part of the index over the entire period, the stake of individual shareholders fell from 9.4% in 2012 to 8.1% in 2016, with declines in 13 of the 15 companies.

The stake of employee shareholders remained stable between year-end 2012 and year-end 2016, at 3.5% and 3.3%, or €47bn and €32bn, respectively.

The French government held 3% of the CAC 40 at year-end 2016, a sharp decrease from year-end 2012

At the end of 2016, the French government had over €40 billion invested in CAC 40 companies. At the end of 2012, it held 6%, with a total value of €57 billion.

This decrease was due to the 2015 exit of EDF from the index, and the withdrawal of “Agence des Participations de l’Etat” and “Caisse des Dépôts et Consignations” from the capital of several CAC 40 companies.

Norway represented half of all foreign sovereign shareholdings, or 1.6% of the CAC 40

Foreign states held roughly 2.7% of the CAC 40 shares, either independently or through sovereign funds, a slight decrease from 3.0% in 2012.

The Norwegian sovereign fund represented 1.6% of CAC 40 shareholding at the end of 2016, also down slightly from the 2012 figure of 1.9%. At year-end 2016, the fund held investments in 39 of the 40 CAC 40 companies, representing a total value of €21 billion.

Stéphane Boujnah, CEO and Chairman of the Managing Board of Euronext, said: “Providing greater transparency on shareholders is in the interest of the companies themselves, as well as their investors, employees, regulators and other stakeholders. Euronext strives to facilitate this, in keeping with our mission to promote financing of the real economy through capital markets. By applying a stringent methodological approach developed by Nicolas Rivard, Chief Innovation Officer at Euronext, and with the help of Morningstar and Factset, we hope to expand our research to include all SBF 120 companies. This would enable future studies to provide insights into more than 85% of market capitalisation on the Paris stock exchange.”

[1] Non extrapolated raw data that identified approximately 60% of the CAC 40 shareholding. 40% of the CAC 40 shareholding is therefore not known in this study.

[2] An asset management strategy that centres on duplicating the performance of a benchmark and its composition as faithfully as possible, also known as “index management”.

Amsterdam, Brussels, Lisbon, London and Paris – 25 January 2018 – Today Euronext, the leading pan-European exchange in the Eurozone, announces that Lee Hodgkinson, Head of Markets and Global Sales of Euronext and CEO of Euronext London Ltd, has decided to pursue a new professional project.

Lee Hodgkinson, after more than 9 years at Euronext, will leave the company in early April 2018 and will serve as CEO of OSTC, a London-based proprietary trading firm which operates from 14 offices around the world. Lee Hodgkinson will actively participate in the transition process during his notice period.

Euronext will take all necessary measures to ensure the transition is conducted in a smooth and orderly manner and the Managing Board remains strongly committed to the achievement of Agility for Growth 2019 targets.

“Euronext is very grateful to Lee Hodgkinson for his strong contribution to our group over the past 9 years and wishes him every success in his new role. The Managing Board of Euronext will work together with Lee to ensure a seamless transition during the first quarter of 2018, and we will remain strongly committed to the delivery of our strategic plan ambitions”.

One-stop shop for ETFs

To answer the needs of a fragmented and opaque ETF industry, and to meet increasing investor demand, Euronext will provide all European listed ETFs available for trading on a single pan-European platform designed in partnership with the ETF industry.

MiFID II

As a leading European operator of financial markets and a provider of trading technologies, Euronext has established a MiFID II programme to ensure compliance with regulatory requirements whilst assisting our customers through the delivery of new services.